South Plains Financial, Inc. Announces 8% Increase to Quarterly Cash Dividend

Rhea-AI Summary

On January 19, 2023, South Plains Financial, Inc. (NASDAQ:SPFI) announced a quarterly cash dividend of $0.13 per share, representing an 8% increase from the previous quarter's dividend declared in October 2022. The dividend is set to be payable on February 13, 2023 to shareholders of record by the close of business on January 30, 2023. This decision reflects the company's ongoing commitment to returning value to its shareholders while maintaining its operational growth.

Positive

• Quarterly cash dividend increased by 8% to $0.13 per share.
• Dividend demonstrates commitment to shareholder value.

Negative

• None.

LUBBOCK, Texas, Jan. 19, 2023 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) (“South Plains”), the parent company of City Bank, today announced that its Board of Directors has declared a quarterly cash dividend of $0.13 per share of common stock, an 8% increase from the most recent quarterly cash dividend declared in October 2022 . The dividend is payable on February 13, 2023 to shareholders of record as of the close of business on January 30, 2023.

About South Plains Financial, Inc.

South Plains is the bank holding company for City Bank, a Texas state-chartered bank headquartered in Lubbock, Texas. City Bank is one of the largest independent banks in West Texas and has additional banking operations in the Dallas, El Paso, Greater Houston, the Permian Basin, and College Station, Texas markets, and the Ruidoso, New Mexico market. South Plains provides a wide range of commercial and consumer financial services to small and medium-sized businesses and individuals in its market areas. Its principal business activities include commercial and retail banking, along with insurance, investment, trust and mortgage services. Please visit https://www.spfi.bank for more information.

Contact:

Mikella Newsom, Chief Risk Officer and Secretary investors@city.bank (866) 771-3347

Source: South Plains Financial, Inc.

FAQ

What is the upcoming dividend amount for SPFI?

The upcoming dividend amount for South Plains Financial (SPFI) is $0.13 per share.

When will the SPFI dividend be paid?

The SPFI dividend will be paid on February 13, 2023.

What is the record date for SPFI's dividend?

The record date for SPFI's dividend is January 30, 2023.

How much has SPFI increased its dividend?

SPFI has increased its dividend by 8% from the previous quarter.